Data Analysis

eWise designed CaaS based on a data structure and algorithm that defines the interrelationship among data elements and augments transactional data to analyse customer behaviour to detect spending patterns and trends.

CaaS is a stand-alone API product, characterised by ‘assisted categorisation.’ It enables consumers to manage all facets of their categorisation lifecycle, maximising categorisation accuracy and user adoption while minimising user input. It is multi-tenanted and secured to provide access to eWise’s B2B customers in defined geographic zones in order to benefit from global knowledge as well as local sensitivity.

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Commenting on the launch, David Hamilton, CEO at eWise, said: “CaaS helps companies tag, source and standardise data, while, creating a structure based on their clients’ needs. With CaaS, our customers will be able to expand their capabilities in translating the value of users’ transactional data in building tools to create a real impact on managing their finances.”

The CaaS API is a full stack data product, involving data augmentation and management of users’ preferences, and is a fully secure and permissioned service. It is integrated into eWise’s Money Manager SaaS offering or available as a stand-alone service for developers to plug categorisation functionality directly into their financial services solution.

Scalable Big-Data Approach

Dean Young, Head of Product Management at eWise, elaborated on the company’s new offering: “This is a scalable big-data approach to categorisation. Our self-learning platform is responsive to local nuances, and regardless of the language in which the data is processed, our API will understand it.”

“We built CaaS to address shortcomings in the market. Typical auto-categorisation solutions are far from 100% accurate so we built ‘assisted categorisation’ at the heart of CaaS. Financial services and Fintech firms have begun to tap the economic and engagement value of enriched data, at eWise we created a rich categorisation architecture that is easily and quickly implemented through our API.”